Perth, Australia (ABN Newswire) - EON NRG Ltd (ASX:E2E) (OTCMKTS:ICRMF) is pleased to announce that a workover rig has been mobilized to the Silvertip Field and is now on location to commence work on recompleting of the 64-28F gas well.
- Rig on location for recompletion of the 64-28F well
- Gas price remains strong on further strategic reserve drawdowns
This recompletion will target gas from the Meeteetse Formation at around 2500'. If successful, the well will immediately be put into production through Eon's gas processing and liquids stripping plant and sold via its sales pipeline.
Gas prices remain high with CIG Rockies benchmark price at $4.43/Mcf over the last week, and continue to be influenced by lower than expected storage volumes. The US Energy Information Administration (EIA) reported that natural gas stocks had fallen by 59 Bcf for the week ending November 23, decreasing by 17.4% to 3,054 Bcf from the 3,698 Bcf that was in storage at this point last year and is 19.1% below the five-year average of 3,774 Bcf.
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About EON NRG Ltd:
EON NRG Ltd (ASX:E2E) is a USA onshore focused energy company. The Company is targeting high impact energy exploration projects in oil, gas, and or battery minerals, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow.
Source:
EON NRG Ltd
Contact:
Australia -
Simon Adams
CFO/Company Secretary
Phone: +61-8-6144-0590
Email: sadams@i-og.net
USA -
John Whisler
Managing Director
Denver Head Office: +1-720-763-3183
Email: jwhisler@i-og.net
Website: www.eonnrg.com
Twitter: @EonNRG
Source: ABN/Asia Business Newswire
(December 4, 2018 - 12:20 AM EST)
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